What does an REO fixer-upper house look like?

I recently inspected a bank-owned huge fixer of a house in the Oak Park area of Sacramento, and I put together a one-minute video below (or HERE) for you to experience a bit of what I saw. This house sold for less than $20,000.

By the way, I do have the full blessing of my client to use images of this house they purchased. I would never violate my client’s confidentiality by posting pictures or sharing information like this without the absolute blessing of a client. Thank you also to Bill Cobb for the music. Let me know what you think.

Comments

    • says

      This was is a big project for sure. The “unsafe” sign can actually be used in Sacramento for quite a few code violations. It doesn’t necessarily mean that a property is about to fall over per se because the violation could be far less severe. However, in this case, this property is totally unsafe because of the needles, massive holes in the roof, smoke damage, etc…

      • says

        On a “scary” note, I will say that I was glad that the pest guy was at the house at the same time. I’m a huge fan of the buddy system and not being alone in very questionable situations.

    • says

      I know. The foundation could still be used though, but walls and roof and some framing have to come out. The kitchen’s still nice though and maybe it could be used elsewhere (kidding of course).

  1. says

    why is shra fixing up houses? Should they leave that to the private real estate investor to fix up houses? I guess that is a political debate. small government vs. large government.

    • says

      Gordon, thanks for the comment. Private investors are actually the ones doing the fixing and all of the work, but the funds are coming through SHRA / NSP federal dollars. It looks like you are in the business. What do you do? I clicked over to your website but nothing came up.

  2. says

    Did you ever see anything further regarding this fixer upper, if it was torn down or renovated? I would have torn it down, mainly because buying it for $20k as land value might be a good price to start over with a better floorplan and size if the city would approve a bigger house.

    • says

      It’s still in the process of rehab. It’ll actually be added on to so that the total square footage is 1200 or so (along with making it a 4/2 or 3/2). Due to code violations, the price was actually reduced to under 10K. The site is not worth much in this area right now. I hope to make an updated video, but that’ll be in many months.

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